• The Journal of Sustainable Design and Educational Environment Research
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• v.14 no.1
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• pp.1-9
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• 2015

The accurate estimation of construction cost is critical for effective budgeting and financing of the project. Accurate estimates also allow for informed decisions when considering the responsiveness of bids or proposals and for a contractor to better monitor construction progress. However, current method for construction cost of the public educational facility uses a basic criteria in Korea, e.g, construction cost per unit floor area. Therefore, the purpose of this study is to examine present architectural work cost rate of elementary, middle, and high school delivered by BTL(Build-Transfer-Lease). We examined real construction cost of educational facility according to level of school, such as elementary, middle, and high school. The examination revealed that unit price of BTL educational construction cost are different to the level of school, but the composing rate of architectural work cost of the educational facility are very similar. As a result, it is recommended that future researches are initiated to create specific methods to support the accurate cost estimation of educational facility.

• New & Renewable Energy
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• v.16 no.4
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• pp.65-75
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• 2020

The value of tangible assets depreciates over their useful life and this depreciation should be adequately reflected in any tax or financial reports. However, the method used to calculate depreciation can impact the financial performance of solar projects due to the time value of money. Korean tax law stipulates only one method for calculating the depreciation of solar photovoltaic facilities: the straight-line method. Conversely, USA's tax law accepts other depreciation methods as solar incentives, including the modified accelerated cost recovery system (MACRS) and Bonus depreciation method. This paper compares different depreciation methods in the financial analysis of a 10 MW solar system to determine their effect on the financial results. When depreciation was calculated utilizing the MACRS and Bonus depreciation method, the internal rate of return (IRR) was 10.9% and 16.4% higher, respectively, than when the Korean straight-line depreciation method was used. Additionally, the increased IRR resulting from the use of the two US methods resulted in a 20.5% and 27.4% higher net present value, respectively. This shows that changing the depreciation calculation method can redistribute the tax amount during the project period, thereby increasing the discounted cash flow of the solar project. In addition to increasing profitability, USA's depreciation methods alleviate the uncertainty of solar projects and provide more flexibility in project financing than the Korean method. These results strongly suggest that Korean tax law could greatly benefit from adopting USA's depreciation methods as an effective incentive scheme.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.551-559
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• 2021

The maturity structure of corporate debt is one of the significant financing choices that a firm must make simultaneously while deciding how to finance its operational and investment decisions. Even though the capital structure is one of the scrutinized topics of interest in the corporate finance literature, scarce studies have investigated corporate debt maturity, even less so in the context of emerging markets. The choice of a suitable debt maturity structure is exceptionally relevant for firms. It can enable them to avoid mismatch by aligning assets in line with liabilities, addressing agency-related problems, sidestep the ill effects of cost of capital, and signaling the firms' earning quality and value. The study investigates the firm-specific and macroeconomic determinants significant for the debt maturity structure of Vietnamese corporate firms. A sample of 722 non-financial firms listed on the Ho Chi Minh and Hanoi Stock Exchange in Vietnam from 2007 to 2018 was taken to test the hypothesis. The study's methods fixed effects panel data analysis provides empirical evidence that firm size, firms' quality, liquidity, leverage, asset maturity, tax impact, and macro variables are significantly related to the debt maturity structure.

• The Journal of Sustainable Design and Educational Environment Research
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• v.15 no.1
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• pp.1-10
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• 2016

School facilities are one of the important educational requirements, and it is necessary to maintain safe and sustainable for the ongoing educational environment. For this reason, educational government department have an effort to produce school facilities that have become safe, comfort, convenient and high-quality. There are many methods to improve existing buildings and build new schools by energy efficient technology. Even though educational environment of school facilities are improved by the efforts, the energy consumption has a huge increase. Energy is a major budget item for schools. The accurate estimation of energy cost is critical for effective budgeting and financing for the school facility maintenance. Accurate energy cost estimation also allow for a anticipatable LCC (Life Cycle Cost) of new school facilities. In this study, in order to produce a basic information about the present energy usage status in domestic school facilities, energy usage quantity is regionally analysed according to physical characteristics of elementary, middle, and high school facilities. Those results will give a chance to see deeply the pros and cons of energy usage each regional school facilities.

• Journal of Food Hygiene and Safety
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• v.39 no.2
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• pp.171-179
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• 2024

In previous Cost-of-Illness (COI) studies, the economic impact of lost leisure time of patients has been mostly underexplored. Furthermore, few studies have focused on chronic or severe diseases, thereby inadequately addressing the segment of self-care patients who do not fall into the categories of inpatients or outpatients. In the present study, we used a comprehensive approach to calculate the annual cost of leisure loss, incorporating factors such as employment status, self-care options, and total period of leisure activity disruption. This required analyzing data from various sources, including health and labor statistics, and applying methods to accurately assess the leisure time lost due to food poisoning. The findings showed that the annual cost of leisure loss for South Korean patients with food poisoning is significant, amounting to approximately 784.5 billion KRW (702.8 million USD, USD/KRW : 1128.34). This study revealed that overlooking self-care patients and not accounting for the affected time in addition to treatment time and employment status significantly underestimated these costs. This study highlights the importance of considering a wider range of factors, including self-care, employment status, as well as the entire affected period, in assessing the societal impact of diseases such as food poisoning. These findings provide valuable insights for policymakers and healthcare professionals to understand the broader economic implications of illness and allocate healthcare resources more effectively.

• Plant Journal
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• v.9 no.1
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• pp.50-57
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• 2013

This study investigates the risks that can occur during the development stage of IPP project in developing countries. In case that ECA and MLA cannot participate due to poor credit rating of the country, the diversification of power purchaser in marginal states can be a great help to reduce both market risk and country risk at the same time. In case of thermal power plants and combined cycle power plants, the effect of performance degradation as time passed will be considered and expected profit of sponsors should be maintained. Recently, developing countries are expanding IPP projects to reduce the financing cost and Korean power companies are positively participating in IPP projects. Accordingly, the loss of Korean companies should be minimized by risk management through the risk mitigation methods of this study.

• Korean Journal of Construction Engineering and Management
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• v.13 no.6
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• pp.94-106
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• 2012

In recent years, the risks and uncertainties associated with mixed used development in urban regeneration projects which have actively been implemented at home and abroad have been on the rise due to the uncertainties of the initial business plan, difficulty of financing, increase in total cost and schedule delay. To cope with rapid social and economic changes and optimize benefits, a risk-based configuration management process that considers life cycle is required, along with accurate planning in the early stage of the business. In addition, it is necessary to prepare measures that can respond to the evaluation and measurement of the configuration factors in relation to the business process. However, the focus of previous studies on configuration management in the field of construction was mainly on humanities and the sociological aspects such as organization, leadership, ideology and similar concepts. There has been limited research on the process and measurement and evaluation methods for configuration factors required in decision-making on the risks and changes that can occur in the actual project implementation phase. Accordingly, in this study, we defined risk-based configuration factors and developed a process and MECA/3DAM/CII methodology to measure and evaluate these factors so as to carry out systematic configuration management of mixed used development in urban regeneration projects.

• Information Systems Review
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• v.20 no.4
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• pp.79-96
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• 2018

This study started by focusing on the internalization of the technology appraisal model into the credit rating model to increase the discriminative power of the credit rating model not only for SMEs but also for all companies, reflecting the items related to the financial stability of the enterprises among the technology appraisal items. Therefore, it is aimed to verify whether the technology appraisal model can be applied to identify high-stability SMEs in advance. We classified companies into industries (manufacturing vs. non-manufacturing) and the age of company (initial vs. non-initial), and defined as a high-stability company that has achieved an average debt ratio less than 1/2 of the group for three years. The C5.0 was applied to verify the discriminant power of the model. As a result of the analysis, there is a difference in importance according to the type of industry and the age of company at the sub-item level, but in the mid-item level the R&D capability was a key variable for discriminating high-stability SMEs. In the early stage of establishment, the funding capacity (diversification of funding methods, capital structure and capital cost which taking into account profitability) is an important variable in financial stability. However, we concluded that technology development infrastructure, which enables continuous performance as the age of company increase, becomes an important variable affecting financial stability. The classification accuracy of the model according to the age of company and industry is 71~91%, and it is confirmed that it is possible to identify high-stability SMEs by using technology appraisal items.

• Journal of Hospice and Palliative Care
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• v.14 no.4
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• pp.212-217
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• 2011

Purpose: Since 2005, the Ministry of Health & Welfare has provided financial support to promote palliative care for terminal cancer patients. We analyzed how palliative care facilities used the funding between 2006 and 2010. Methods: Frequency analysis was conducted by the item of expenditure based on fiscal reports of the palliative care facilities. Linear regression analysis was performed to examine a trend over time. Kruskal-Wallis test and Wilcoxon rank-sum test were used to compare expenditure items, the number of provision of financial support and type of palliative care units. Results: About a half of the fund was spent to pay care givers salary, improve facilities and purchase equipment regardless of the year, the number of financial support provided or facility type. By year, the operation cost for palliative care program and the education cost for health care workers have significantly increased in linear regression analysis (P<0.01). However, the amount of financial support for the low income group has decreased over years (P=0.024). This trend was affected by evaluation criteria and weight. Conclusion: The government aid for palliative care units has been used to improve facilities and equipment. Moreover, desirable changes were noted such as a higher portion of expenses for program operation and care giver training to enhance the quality of care. However, the evaluation criteria need to be adjusted to prevent any further decrease in the support provided to the low income group.

• Journal of The Korean Ophthalmological Society
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• v.59 no.11
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• pp.1039-1048
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• 2018

Purpose: To evaluate the effects of anti-vascular endothelial growth factor (VEGF) treatment on the healthcare-related finances of patients with age-related macular degeneration. Methods: Changes in health care financing due to newly introduced benefit standards were predicted over the coming 5-year period (2018-2022). We also analyzed the financial impact of scenarios in which agents similar to anti-VEGF, such as the over-licensed drug bevacizumab, were introduced. For this purpose, the future number of patients receiving anti-VEGF treatments was estimated for various scenarios based on National Health Insurance Corporation claims data followed by an estimate of the financial burden. Results: In the case of age-related macular degeneration, the current standard of care (14 times in a lifetime) was maintained in scenario 1. In 2018, the insurance budget for the coming 5-year period was estimated at approximately 440.3 billion won. The insurance cost for that period was estimated at approximately 560.1 billion won under the revised standard of December 2017 (scenario 2). For scenarios wherein, after 2020, similar treatments (scenario 3) and bevacizumab (scenario 4) were introduced, the estimated health insurance costs were 521 billion won and 419.7 billion won, respectively. Conclusions: Health insurance costs are projected to increase substantially due to the elimination of the 14 time pay standard; however, the actual budget will only moderately increase, due to new limitations of visual acuity ${\leq}0.1$ or in case of scarring/atrophic lesions. Clinically similar agents and bevacizumab could be considered as alternatives to anti-VEGF treatment for age-related macular degeneration.